DR Congo Economic Outlook
August 20, 2019Available data for the second quarter is mixed; while domestic activity will have supported growth in the quarter, a bleaker external environment likely took its toll. Average activity in the all-important mining sector accelerated in Q2, on an annual basis, largely on the back of upbeat copper output. That said, the rise in production was countered by lower global prices for base metals, owing to the escalation of the U.S.–China trade war in May. This, coupled with a contraction in gold and oil output in Q2, likely weighed on merchandise exports earnings in the quarter. Prospects for the third quarter do not look bright either: Glencore announced in early August a halt in operations at the Mutanda mine, the world’s largest cobalt mine, following a dramatic fall in prices.
DR Congo Economic GrowthEconomic activity is expected to lose stride this year as protracted trade tensions weigh on exports growth. Nevertheless, large-scale infrastructure development projects, largely financed by China, should keep the pace of expansion robust nonetheless. Political uncertainty, a worsening Ebola outbreak and volatility in commodity markets cloud the outlook. FocusEconomics panelists project growth of 4.5% in 2019, which is down 0.2 percentage points from last month’s forecast, and also 4.6% in 2020.
DR Congo Economy Data
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5 years of DR Congo economic forecasts for more than 30 economic indicators.
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DR Congo Facts
|Exchange Rate||1,665||-0.78 %||Sep 04|
|Stock Market||0.6||0.0 %||Sep 04|
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